OREANDA-NEWS. March 05, 2012. Effective March 5, 2012 the secondary market and repo section of the Government Securities Market of MICEX-RTS will be shut down. All trades including repos in Russian Federation government bonds (OFZ), CBR bonds and Eurobonds issued by the Ministry of Finance of the Russian Federation will only be executed on MICEX Stock Exchange. Whereby first and second legs of those repo trades that were made before the 5th of March, 2012 will be duly settled.

Full migration of the secondary market was preceded by a transition period from February 13 to March 2, 2012 when OFZ and Eurobonds were trading both on the Government Securities Market of MICEX-RTS and on the Securities Market of MICEX Stock Exchange. This transition period allowed market participants to move their operations to MICEX Stock Exchange in good time. On the 1st of March, 2012, 98.8% of all OFZ trades and 100% of all repos in OFZ bonds were made on MICEX Stock Exchange.

Initial offerings and repurchase of OFZ and CBR bonds will continue to take place on the Government Securities Market of MICEX-RTS.